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SET (Secure Electronic Transaction) - Network Security & Cryptography Notes in English Notes

Quick Summary & Key Takeaways

• Subject Focus: Network Security & Cryptography Notes in English (BCA / B.Tech Syllabus)

• Core Topic: SET (Secure Electronic Transaction) - General Topics

• Overview: SET (Secure Electronic Transaction): Secure Electronic Transaction (SET) is a digital payment system that was developed to conduct online transactions ...

• Key Concepts: SET secure electronic transactions, Protocol parties dual signature Hindi, Payment process SET,SET secure electronic transactions, Protocol parties dual signature, Payment process SET

SET (Secure Electronic Transaction):

Secure Electronic Transaction (SET) is a digital payment system that was developed to conduct online transactions securely and confidentially. The main objective of SET is to ensure the security of sensitive information for both the consumer and the merchant, especially in online credit card transactions.

Introduction to SET:

SET was developed in 1996 by major companies like Visa and MasterCard. Its primary goal was to secure the use of credit cards in e-commerce and reduce fraud. SET is a protocol that ensures confidentiality, verification, and data integrity during financial transactions over the internet.

Working Principle of SET:

SET operates through three main components: the Cardholder, the Merchant, and the Payment Gateway. The process involves four main stages: Customer Authentication, Secure Ordering, Payment Process, and Confirmation. A key feature is that the merchant never sees the customer's credit card information; it is sent directly to the payment gateway.

Key Security Technologies in SET:

Digital Certificates, Encryption, Public and Private Key Cryptography, and Non-repudiation.

Advantages and Disadvantages of SET:

Advantages: Enhanced security and privacy, reliability, reduction in fraud, and data integrity.

Disadvantages: Cost and complexity for merchants to implement, user complexity, and decreased demand due to simpler protocols like SSL/TLS.

Frequently Asked Questions (FAQs)

SET (Secure Electronic Transaction): Secure Electronic Transaction (SET) is a digital payment system that was developed to conduct online transactions securely and confidentially.

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SET (Secure Electronic Transaction)

Quick Summary & Key Takeaways

SET (Secure Electronic Transaction):

Frequently Asked Questions (FAQs)

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